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Smail and friendly is how Gerda Teuner would like her yarn and fabric shop, located in the Erb Centre, to remain. Chronicle photo camiPa(?) LAZIDAZE FOR SPRING INSTALLATION YOUR MEMORIAL SHOULD BE ORDERED NOW SUPERIOR MEMORIALS 528 Victoria St. N. Kitchener ages 6â€"12 A fun summer day camp with a Christian First United Church call Elien 886â€"7876 9 a.m.â€"12 noon or anytime (Beside Wexton Bakeries) 1456138 After hours §78â€"7154 Large Indsor Showrcoms Modest start suits Gerda fine Most people don‘t know this, but the formula is easy â€" time + money + rate of return. Work it out! Person No. 1 decided to save $50 a month, which is $600 a year. and started at age 25 through to age 65, a total of 40 years. He used inâ€" vestment funds that aver azedu:fi per cent a yen:'rddur- ing that 40â€"year period. In total, he invefle(rfid.(ln but his value at age 65 was $1.227,571. Yes, that‘s one million, two hundred and twentyâ€"seven thousand, five hundred and seventyâ€" one dollars (Why don‘t you work it out on your calculator?) One has $1 million more â€" What‘s the formula for financial success? There probably isn‘t one person in a hundred who recognizes which of these three is most important. Do you know? â€"‘ll tell you this story, and then see if you can answer‘ Person No. 2, at the age of 45 decided to play "catchâ€" up" and so decided to save $100 a month through to age 65. a total of 20 years Total invested was $24.000. and it too averaged 15 per cent a year in investment funds. He ended up with a value of $141,.372 That‘s over $1 million LESS than Person No. 1 Both had invested the same amount of dollars ($24,000 each) and both had received the same rate of reâ€" turn (15 per cent) over the full period. But one ended up with over $1 million more! most important one apâ€" renrn to be TIME. The earâ€" ier you start saving, the If 1 asked the question again, which of the threeinâ€" gredients, namely time. money, or rateâ€"ofâ€"return is MOST important, what would your answer be? All three ingredients ARE important, but the more you will have. After all. for Person No. 1. that first $50 worked 39 years and 11 months. the second $50 for 39 years and 10 months etc gwmn No. 2‘s first $100 worked only 19 years and 11 months, etc Yet we continuously run across people who say "I can‘t (usually mean they won‘t) save a part of what I earn". After all, I‘m young. and I need that car, and the money to date and have a good time. and later they say I need all I‘m earning to Yarn and fabric store IT‘S YOUR MONEY Paul J. Rockel ADVERTISEMENT buy furniture and things for the apartment for me and my mate; and later I can‘t save because there are children to support, a house to buy, and then university for the children. And on and on .. In the illustrations of Perâ€" son No. 1 and No. 2. shows they both saved the same amount and received the same rate of return, but No. 2 lost 20 years of TIME. (And $1 million). da For a FREE brochure on ‘"Why Doesn‘t Everyone Buy Investment Funds?", ask for "Why Doesn‘t Everyone" and write: Paul J. Rockel, 153 Union St. E.. Waterloo, Ont. NZJ 1C4 Paul J. Rockel is President of Regai Capital Planners Ltd. Just a Hitle Every day that passes, and you haven‘t saved a litâ€" tle bit of what you earn (5 per cent or up to 10 per cent) is gone, nn: can never be reclaimed. sociation of Canada. Don‘t you lose another Melodee Martinuk Chronicle Staff Gerda Teuner doesn‘t claim that her shop is big, or fancy, or modâ€" It doesn‘t carry the city‘s most extensive inventory of yarns or stock the most expensive fabric Instead, it‘s cluttered and friendâ€" ly, kind of like the basement of your home. And, frankly, tucked away as it is at the side of the Erb Centre, Gerda‘s YÂ¥arn and Fabrics can even be a little tricky to find. ‘"I wanted to start small â€" it‘s no use opening a big store and having no business. Here the rent is not so high, and I can charge my customâ€" ers less, and they really appreciate that," she said. ° For Gerda, however, it‘s the perfect first step for a new business which could some day be much bigger, but never so large that she doesn‘t know all her customers. *‘Someday I‘d like to move to a bigger, nicer store, that‘s my goal...but not too big, because I enjoy it and want to handle it myâ€" self." Opening such a store was a natural step for the Germanâ€"born woman, who said that knitting, crocheting and sewing have been lifelong hobbies. In fact, when she‘s not helping her customers, Gerda Don‘t rely too much on interest rates House buyers could face the tragedy of losing their homes if they rely too much on low interest rates. It‘s impossible to predict future interest rates aqccurately, says Al Coleclough, Registrar of the Real Estate and Business Brokers Act for the Ministry of Consumer and Commercial Relations (MCCR). Hundreds of Ontario residents lost homes a few years ago when skyrocketing interest rates pushed Start meeting our way . .. â€"â€"â€"" * nsuring that your business meeting seminar, convention tr)‘rnganquet runs smoothly is our business. We provide professional service, atmosphere, rooms, accommodations, meals â€" everything under one roof. Rely on our years of experience. â€"I idâ€"biz 475 King Street North, Waterloo, Ontario N2J 225 Telephone (519) 884â€"0220 *Warer.oo Inn. their mortgage payments through the roof. For some, the cost of owning homes doubled. Rates have since gone down and housing sales have picked up, but everyone thinking of buying a home now should keep past experiâ€" ences in mind, Coleclough warns. ‘‘*Never buy right to the limit of your finances," he says. "Keep something in reserve in case interest rates go up again. Sure, they may just go up for a couple of weeks or months, but if your mortgage is due for renegotiation that week, you‘re out of luck." Opened seven months ago, Gerda‘s is crammed from floor to ceiling with a myriad of items for the home sewer and knitters. But what probably accounts more for the shop‘s survival is Gerda herself. Because she‘s an expert knitter and loves the craft, Gerda‘s always willing to help someone having trouble with a pattern or a stitch, and she‘s always ready to advise someone just starting out. can usually be found fashioning some new knitted item, which more often than not will wind up for sale ‘"‘"Often people come in and say ‘can you help me,‘ and I do. Lots of people come in and say ‘I can‘t knit or I can‘t sew, how can I learn,‘ and I like to teach them,"‘ she said. And, after years of working for someone else, the one thing which Gerda loves most is the challenge of ‘"being my own boss." in the shop. "I have a little bit of everything, but not a lot of everything," she said. ‘"‘Fabrics of all kinds, yarn, quilt batting...even wooden toys that my son makes in his spare time." ‘"I enjoy being with the public and I‘d always wanted to have my own shop. I enjoy being my own boss. It feels different when it‘s yours. I can buy what I think will move and do what I want."